Technical Provisions Appropriateness of the Level of Technical Provisions

Application provision

1.1 Unless otherwise stated, this Part applies to:

  1. (1) a UK Solvency II firm;
  2. (2) in accordance with Insurance General Application 3, the Society, as modified by 16; and
  3. (3) in accordance with Insurance General Application 3, managing agents, as modified by 16.

14.1

01/01/2016

Upon request by the PRA, the firm must demonstrate to the PRA:

  1. (1) the appropriateness of the level of the firm’s technical provisions;
  2. (2) the applicability and relevance of the methods applied; and
  3. (3) the adequacy of the underlying statistical data used.

[Note: Art. 84 of the Solvency II Directive]